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flights in and out of boston. while the worst of the storm has yet to hit, many businesses and cities were busy making prarations today. erika ller repor. >> reporter: this monstrous storm is already being compared to the great blizzard of '78, when vast amounts of snow blanketed the ohio valley and the great lakes. that storm lasted 36 hours, leaving cars stranded. this storm could also be historic. weather forecasters predict it will leave up to three feet of snow in a wide swath stretching from new york to boston. preparations are well underway. airlines cancelled nearly 4,500 flights, leaving many travelers stranded. >> here at laguardia, as you can see, our port authority men and women are hard at work preparing for the storm. our fleet of snow removal vehicles and sand and agent spreaders are prepped and ready for action. >> reporter: amtrak has also canceled many trips in the northeast. the storm is expected to deliver a harsh blow to areas of the east coast still recovering from superstorm sandy. >> hurricane sandy cost the economy a $100 billion and the recovery efforts are still
is that the price gains were widespread throughout the nation-- 19 out of 20 cities posted increases. the lone exception was new york city, where prices dipped a half a percent. there was more data today reaffirming the housing market recovery. new home sales surged almost 16% in january, lotore an expected and the biggest jump in nearly two decades. so what's behind the turnaround in the housing market? >> the biggest factor is just the fact that prices have fallen to such a level that there are enough willing buyers that see value in this market to come in and basically provide a floor. >> reporter: in fact, investors continue to purchase about nearly one out of every five homes. many real estate experts predict home prices will continue to rise this year, fueled by a dwindling number of properties on the market. in january, the supply of homes for sale fell to its lowest level in nearly eight years. for most people, the biggest impediment to buying a home is not credit score or income. >> it's down payment. most people don't have enough spare cash laying around that they are able to qualify
, "n.b.r.," new york. >> susie: still ahead, why the super bowl blackout means it's time for the cities that host professional sports teams to focus on the basics. >> tom: stocks were back in the green after suffering their biggest sell-off in months yesterday. one encouraging sign came from the service sector. the non-manufacturing index slipped in january from december, but not as much as feared, according to the institute of supply management. the employment index was at its highest level in almost seven years. the dow gained 100, the nasdaq increased 40, the s&p was up almost 16. >> susie: the u.s. government made it official today. it filed a suit against standard and poors' credit agency for giving optimistic ratings on troubled securities that later failed and contributed to the financial crisis. the justice department could seek as much as $5 billion from s&p. it claims that's the amount of money federally insured financial institutions lost because of s&p's alleged wrongdoing. the government claims s&p ratings services knowingly executed a "scheme to defraud investors." >> duri
. besides mardi gras, it's also still riding high from hosting the super bowl. the city's tourism officials say one million people are in town for the festivities. now, that's more than five times as many people who showed up for the super bowl. new orleans' economy took a big hit when hurricane katrina struck in 2005, but these big turnouts are helping its economic comeback. >> tourism is our most important industry. it's a $5 billion industry for new orleans. it employs 75,000 of our local citizens, so it is absolutely critical that we continue to do events like mardi gras, super bowls, final fours, big conventions, business meetings. that is the lifeblood of the city. >> susie: she also says this year's mardi gras is expected to bring in almost $150 million and that the planning never stops. tomorrow, new orleans will start working on mardi gras 2014. well, that's "nightly business report" for tuesday, february 12. have a great evening, everyone. we'll see you online at www.nbr.com and back here tomorrow night. captioning sponsored by wpbt captioned by media access group at wgbh access.w
, maybe two. peak travel to key cities could be snarled by late march. smaller airports may have to shut down altogether. you can find the list on the department of transportation's website. the administration denies these announcements are part of a campaign to pressure house republicans to change course and head off the cuts. >> the idea that we are doing this to create some kind of horrific scare tactic is nonsense. we are required to cut a billion dollars. and if more than half of our employees are at the f.a.a., the f.a.a.-- there has to be some impact. >> reporter: and the f.a.a. cuts don't include potential delays from cutbacks as t.s.a. furloughs employees. the defense department has already informed 800,000 workers they may be furloughed and face a 20% paycut as it struggles to find a way to cut $46 billion from its budget. adding it all up, the president warns the picture is not pretty. >> the overall impact to the recovery will be to slow down the recovery. and not only may there end up being direct job loss, but, because the economy is softer, it also means that we're not goi
Search Results 0 to 4 of about 5

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